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Social Security warning: Retirees face 22% benefit cuts in 2032 despite 3.6% COLA boost in 2027
Source: Hindustan Times — World · 2 hr ago
Summary
Retirees will receive a cost‑of‑living increase of about 3.6% in 2027, which will raise average monthly Social Security payments by roughly $75. However, projections show that by 2032 the program could reduce benefits by about 22% compared with current levels.
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From the original report
Social Security benefits could face 22% cuts in 2032 as retirees get a 3.6% COLA boost in 2027, raising average monthly payments by about $75.
Excerpt from Hindustan Times — World.
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